ISM Non-Manufacturing Report on Business: September 2010
Today, the Institute for Supply Management released their latest Non-Manufacturing Report on Business indicating that service related economic activity continued to expand but at a somewhat slower pace in September. At 52.80 the business activity index weakened for the fourth consecutive month declining 2.94% since August and sliding 0.75% below the level seen a year earlier, the first year-over-year decline in 14 consecutive months. It’s important to note though that only 3 of the 11 indicators cited in the report showed slowing growth since August while the "inventories" and “backlog of order” components actually contracted.
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